| 1 |
Single entry system is suitable where, |
- A. Small amount of cash transactions are more
- B. Large amount of cash transaction are more
- C. Smallamount of cash transaction are more
- D. Largeamount of cash transaction are more
|
| 2 |
In case of dissolution, assets sold for cash are debited to. |
- A. Realization account
- B. Cash account
- C. Assets account
- D. None of these
|
| 3 |
The figure of the bills receivable can be worked out from. |
- A. Total debtors account
- B. Total creditors account
- C. Trail balance
- D. Balance sheet
|
| 4 |
How many methods are available to calculate the profit or loss under single entry system, |
- A. One
- B. Two
- C. Three
- D. Four
|
| 5 |
In single entry it is not possible to prepare |
- A. Trial balance
- B. Trading account
- C. Profit and loss account
- D. Balance sheet
|
| 6 |
In single entrey system statements of assets and liabilities is called. |
- A. Balance sheet
- B. Statement of Affair
- C. Trial balance
- D. Income statement
|
| 7 |
Both aspects of a transaction must be recorded in, |
- A. Single entry system
- B. Barter system
- C. Double entry system
- D. Islamic system
|
| 8 |
According to companies ordinance, single entry system cannot be adopted by, |
- A. Sole proprietorship
- B. Partnership
- C. "a" and "b"
- D. Joint stock companies
|
| 9 |
Teh single entry system of book keeping is generay followed by |
- A. Small business concern
- B. Large Business concern
- C. Non trading concern
- D. None of these
|
| 10 |
Opening capital is calculated by taking the difference between, |
- A. Opening assets and closing assets
- B. Opening assets and closing liabilities
- C. Opening assets and Opening liabilities
- D. Closing assets and closing liabilities
|